The launch of Britannia's new bridge product "Pure Magic Deuce" will make biscuits premium category by lifting the prices but democratise chocolates by making them available at lower prices, said Ali Harris Shere, Marketing Director, Britannia.
"The role that Deuce is going to play in the premiumisation journey is going be slightly different because it is a premium product. While the average price per kilogram for biscuits is around Rs 108-Rs 110 per kg, Deuce is a Rs 500 per kg product. So it is a significant shift for consumers," Shere told BTVI.
"We have tried to engineer the mix of the product in a manner that it is reasonably accessible. Rs five per biscuit is not large, but the MRP (maximum retail price) per kg is reasonably large. So it is going to premiumise the average price of biscuits and lift the average price of Britannia," said Shere.
According to Shere, the product will be available at prices lower than that of chocolates, thus democratising chocolates.
"At the same time from the lens of the chocolate category, chocolates operate at Rs 800-Rs 850 per kg. For a chocolate consumer, this is democratisation that is going to be available at a price which is significantly lower than what consumers buy chocolates," said Shere.
The first launch of Britannia Industries of 2018 -- Pure Magic Deuce -- marked its foray into bridge products, a growing cost-effective segment within foods industry. However, Shere denied the launch of product being the company's official entry into the chocolates industry.
"I would not say it is our official entry into chocolates. If you look at biscuits as a category, biscuits have chocolate in them in some way or form in product formats like a choco-chip cookie or a centre-filled product or a cream biscuit. So, this (Deuce) is one step forward where you get the chocolate experience come through in a biscuit in a very pure way," said Shere.
According to Shere, the target group of the new premium biscuit product is the youth.
"There is a little drop-out that happens as far as biscuit consumption among youth is concerned. So, youth is somebody we are targeting at with this product and we really think that we can excite youth and appeal to youth with this product," Shere asserted.
He added that at present, the company is looking at businesses coming in from key metros and e-commerce sites.
--IANS
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